After more than 30 years and numerous abandoned renovation plans, Battersea Power Station may finally be getting its facelift.
Developers today submitted an official application for planning permission to turn the site into a £5.5 billion residential complex.
The proposals would see 3,700 homes built alongside offices, shops and restaurants on the 40-acre site.
The scheme, by Irish developers Treasury Holdings, also includes a riverside park and an extension to the Riverside Walk connecting through to Battersea Park.
Public access would be given to restored areas, such as the two turbine halls and control rooms.
In return, the developers have pledged to save the power station itself, which is listed Grade II*, and create a "low-carbon environment".
Wandsworth council leader Edward Lister said: "Everyone wants to see the power station restored and the whole site developed to provide new homes and jobs."
The developers are encouraged that there has been progress in the planning of an extension of the Northern line from Kennington to two new stations at Nine Elms and Battersea Power Station.
The plans are crucial to the new homes proposed, as the area has no Tube line.
Mayor Boris Johnson supports the extension "in principle" but there is no current prospect of it being funded by TfL.
The station closed as a power plant on 17 March 1975. Proposals for its use have included a theme park, in 1983, and a shopping mall in 1997.
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